The cost of living for students in Ísafjörður is considerably lower than in Reykjavík. Rent can be as little as half the cost. Almost all services are within walking distance from the University Centre and wide-ranging accommodation options in the centre of town are available to students.

University Centre of the Westfjords students have a wide range of accommodation options open to them in Ísafjörður, from individual rooms to whole privately-owned apartments. Commonly students choose to rent a private room with access to communal kitchen and bathroom. Generally speaking, the cost of housing in Ísafjörður is lower than in Reykjavík and nearly all important services are within walking distance.

Newly built students' housing will be ready in September 2023, giving students an option of a brand new, modern accommodation at a great location, for a reasonable price.